Inflation, consumer prices in Latvia
Latvia: Inflation, consumer prices was 1.27 in 2024. ◆ Volatile
Latest (2024)
1.27
Change on year
down 85.8%
World rank
60th
of 70 countries
All-time high
951.7
in 1992
All-time low
-1.08
in 2010
Years of data
33
1992–2024
Inflation, consumer prices in Latvia, 1992–2024
Source: UNICEF.
Analysis
The most recent figure for inflation, consumer prices in Latvia is 1.27, measured in 2024.
The figure is down 85.8% on the previous year and up 104.0% over ten years.
Over the whole period, inflation, consumer prices in Latvia peaked at 951.7 in 1992 and was at its lowest, -1.08, in 2010.
That places Latvia 60th out of 70 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Inflation, consumer prices in Latvia, year by year
| Year | Value | Change |
|---|---|---|
| 1992 | 951.7 | — |
| 1993 | 108.99 | -88.5% |
| 1994 | 35.92 | -67.0% |
| 1995 | 24.98 | -30.5% |
| 1996 | 17.61 | -29.5% |
| 1997 | 8.45 | -52.0% |
| 1998 | 4.64 | -45.0% |
| 1999 | 2.36 | -49.1% |
| 2000 | 2.65 | +12.2% |
| 2001 | 2.49 | -6.3% |
| 2002 | 1.94 | -22.0% |
| 2003 | 2.94 | +51.8% |
| 2004 | 6.19 | +110.4% |
| 2005 | 6.75 | +9.0% |
| 2006 | 6.54 | -3.1% |
| 2007 | 10.09 | +54.4% |
| 2008 | 15.4 | +52.6% |
| 2009 | 3.53 | -77.1% |
| 2010 | -1.08 | -130.7% |
| 2011 | 4.37 | -503.0% |
| 2012 | 2.26 | -48.3% |
| 2013 | -0.0295 | -101.3% |
| 2014 | 0.6205 | -2206.6% |
| 2015 | 0.1742 | -71.9% |
| 2016 | 0.1406 | -19.3% |
| 2017 | 2.93 | +1983.7% |
| 2018 | 2.53 | -13.5% |
| 2019 | 2.81 | +10.9% |
| 2020 | 0.2191 | -92.2% |
| 2021 | 3.28 | +1395.4% |
| 2022 | 17.31 | +428.4% |
| 2023 | 8.94 | -48.4% |
| 2024 | 1.27 | -85.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 144.33 | 2.36 | 951.7 | 8 |
| 2000s | 5.85 | 1.94 | 15.4 | 10 |
| 2010s | 1.47 | -1.08 | 4.37 | 10 |
| 2020s | 6.2 | 0.2191 | 17.31 | 5 |
Countries ranked near Latvia
More economy & growth data for Latvia
- GNI (current LCU), annual growth rate 7.93 % change on previous year (2025)
- GNI (current LCU), per unit of GDP 0.8773 current LCU per US$ of GDP (2025)
- GNI (current LCU), per capita 23,085 current LCU per person (2025)
- Net primary income (Net income from abroad) (current US$), annual 8.34 % change on previous year (2024)
- Net primary income (Net income from abroad) (current LCU), annual 8.43 % change on previous year (2024)
- Taxes less subsidies on products (current US$), annual growth rate 12.94 % change on previous year (2025)
- Taxes less subsidies on products (current US$), per unit of GDP 0.1306 current US$ per US$ of GDP (2025)
- Taxes less subsidies on products (current US$), per capita 3,437 current US$ per person (2025)
- Taxes less subsidies on products (current LCU), annual growth rate 8.19 % change on previous year (2025)
- Taxes less subsidies on products (current LCU), per unit of GDP 0.1156 current LCU per US$ of GDP (2025)
Frequently asked questions
- What is inflation, consumer prices in Latvia?
- Inflation, consumer prices in Latvia was 1.27 in 2024, according to UNICEF.
- What is the highest inflation, consumer prices recorded in Latvia?
- The highest recorded value was 951.7 in 1992.
- What is the lowest inflation, consumer prices recorded in Latvia?
- The lowest recorded value was -1.08 in 2010.
- How does Latvia rank for inflation, consumer prices?
- Latvia ranks 60th out of 70 countries with data for 2024.
- Is inflation, consumer prices rising or falling in Latvia?
- Over the last ten years it is up 104.0%. The long-run trend across the full record is volatile.
- Where does this Latvia data come from?
- The figures come from UNICEF, published as part of Inflation, consumer prices (annual %). Statizoid updates them automatically from the source API.
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